Advance tax ruling

Minister of Justice and Attorney General of Canada announces a judicial appointment to the Tax Court of Canada

Retrieved on: 
Thursday, June 1, 2023
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John C. Yuan, Counsel in the Tax Law Services Porfolio at Justice Canada in Ottawa, is appointed a judge of the Tax Court of Canada.

Key Points: 
  • John C. Yuan, Counsel in the Tax Law Services Porfolio at Justice Canada in Ottawa, is appointed a judge of the Tax Court of Canada.
  • I am confident he will serve Canadians well as a member of the Tax Court of Canada."
  • Justice Yuan joined the Tax Law Services Portfolio of the Department of Justice Canada in 2022 as counsel in the legal services unit for the Canada Revenue Agency.
  • Budget 2022 provides for 22 new judicial positions, along with two associate judges at the Tax Court of Canada.

Allied Announces Successful Consent Solicitation and Cancellation of Debentureholder Meeting for Series D-I Debentures

Retrieved on: 
Monday, May 29, 2023
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TORONTO, May 29, 2023 (GLOBE NEWSWIRE) -- Allied Properties REIT (“Allied”) (TSX:AP.UN) announced today that it has solicited consents and proxies from holders (“Debentureholders”) of its 3.636% Series C Senior Unsecured Debentures due April 21, 2025 (“Series C Debentures”), 3.394% Series D Senior Unsecured Debentures due August 15, 2029 (“Series D Debentures”), 3.113% Series E Senior Unsecured Debentures due April 8, 2027 (“Series E Debentures”), 3.117% Series F Senior Unsecured Debentures due February 21, 2030 (“Series F Debentures”), 3.131% Series G Senior Unsecured Debentures due May 15, 2028 (“Series G Debentures”), 1.726% Series H Senior Unsecured Debentures due February 12, 2026 (“Series H Debentures”) and 3.095% Series I Senior Unsecured Debentures due February 6, 2032 (“Series I Debentures” and, together with the Series C Debentures, Series D Debentures, Series E Debentures, Series F Debentures, Series G Debentures and Series H Debentures, collectively, the “Debentures” and each, a “Series”) in order to approve the proposed amendments (the “Debenture Amendments”) to the trust indenture governing the Debentures between Allied and Computershare Trust Company of Canada, as debenture trustee (the “Debenture Trustee”), dated as of May 13, 2015 (as amended or supplemented from time to time, the “Indenture”).

Key Points: 
  • TORONTO, May 29, 2023 (GLOBE NEWSWIRE) -- Allied Properties REIT (“Allied”) (TSX:AP.UN) announced today that it has solicited consents and proxies from holders (“Debentureholders”) of its 3.636% Series C Senior Unsecured Debentures due April 21, 2025 (“Series C Debentures”), 3.394% Series D Senior Unsecured Debentures due August 15, 2029 (“Series D Debentures”), 3.113% Series E Senior Unsecured Debentures due April 8, 2027 (“Series E Debentures”), 3.117% Series F Senior Unsecured Debentures due February 21, 2030 (“Series F Debentures”), 3.131% Series G Senior Unsecured Debentures due May 15, 2028 (“Series G Debentures”), 1.726% Series H Senior Unsecured Debentures due February 12, 2026 (“Series H Debentures”) and 3.095% Series I Senior Unsecured Debentures due February 6, 2032 (“Series I Debentures” and, together with the Series C Debentures, Series D Debentures, Series E Debentures, Series F Debentures, Series G Debentures and Series H Debentures, collectively, the “Debentures” and each, a “Series”) in order to approve the proposed amendments (the “Debenture Amendments”) to the trust indenture governing the Debentures between Allied and Computershare Trust Company of Canada, as debenture trustee (the “Debenture Trustee”), dated as of May 13, 2015 (as amended or supplemented from time to time, the “Indenture”).
  • Debentureholders representing over 66 2/3% of the aggregate principal amount of each of the Series D Debentures, Series E Debentures, Series F Debentures, Series G Debentures, Series H Debentures and Series I Debentures have provided consent in favour of an extraordinary resolution approving the Debenture Amendments.
  • The meeting of Debentureholders scheduled for June 1, 2023, will be cancelled with respect to all such Series.
  • Subject to the satisfaction or waiver of certain payment conditions described in the Solicitation Statement, Allied will pay a consent fee of $0.10 for each $1,000 principal amount of Debentures (the “Consent Fee”) to each eligible Debentureholder who responded to the consent solicitation and provided timely and valid consent and voting instructions.

Bitwave Announces New Feature Suite to Help Enterprises Embrace Web 3

Retrieved on: 
Thursday, June 9, 2022
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AUSTIN, Texas, June 9, 2022 /PRNewswire-PRWeb/ -- Bitwave, the first digital asset platform purpose-built to manage the intersection of cryptocurrency tax, accounting, and compliance, today announced an expansive set of product features designed to open up access for a new class of digital assets to Enterprise. The updates include first-of-its-kind support for Ethereum Virtual Machine (EVM), Solana, and ImmutableX-based non-fungible tokens (NFTs) and a new Advanced Accounting Module with impairment and compliance-ready treatments.

Key Points: 
  • "Bitwave's Advanced Accounting Module is built for organizations focused on robust financial reporting and compliance," says CEO and co-founder Pat White.
  • "Before Bitwave, impairment testing was a time-intensive, manual process, but our new module empowers organizations to perform fast and accurate impairment testing across their entire digital assets portfolio.
  • Finally, Bitwave's new Advanced Transaction Processing feature contains advanced roll-up functionality and metadata-based rules to help companies process millions of transactions a day.
  • The firm was founded in 2018 by technology entrepreneurs Pat White and Amy Kalnoki and is based in San Francisco, CA.

Pandemic Prompted Two-Thirds of High Net Worth Business Owners to Change Succession Plans, Clarfeld | Citizens Private Wealth Finds

Retrieved on: 
Monday, September 13, 2021
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In its Success and Succession study, which explored the impacts of COVID-19 on business decision making among high- and ultra-high net worth business owners, Clarfeld found that respondents had to make tough choices.

Key Points: 
  • In its Success and Succession study, which explored the impacts of COVID-19 on business decision making among high- and ultra-high net worth business owners, Clarfeld found that respondents had to make tough choices.
  • Additionally, a surprising half of HNW business owners plan to sell their businesses as a result of the pandemic.
  • In addition to the succession planning considerations, Clarfeld found that since March 2020, two thirds of wealthy business owners (65%) have moved their businesses.
  • Clarfeld | Citizens Private Wealth is a leading wealth management firm and multifamily office based in Tarrytown, New York.